Donald Trump has taken America by storm in the last year with his unconventional and inflammatory presidential run, and it now appears that his other attempt to find a home on Pennsylvania Avenue—the Old Post Office redevelopment—has been just as unconventional.
Documents obtained by BuzzFeed show Trump gave his three oldest children—Ivanka, Donald Jr. and Eric—more than 22% of the project, despite the children investing no money into the deal.
It also appears Trump invested a small amount of money in the project himself. BuzzFeed also reports that he leveraged just $2.4M in equity for the $200M project.
The project has already seen quite a bit of controversy due to Trump's presidential run, with two celebrity chefs backing out of agreements to open restaurants in the hotel because of Trump's disparaging comments toward Mexicans. Trump Org EVP David Orowitz will be at BLIS on Sept. 21 for a case study on the new five-star hotel. [BF]
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